The latest developments in the ESG space.

Lomarlabs, Seabound  
European ship-owning and management group Lomar said that its new subsidiary lomarlabs has collaborated with climate tech startup Seabound, in a bid to reduce emissions and catalyse new, cost-effective methods of capturing CO2 on board vessels.

This venture is spearheaded by former Lomar technical director Stylianos Papageorgiou, who has been appointed its managing director, the firm said in a statement last week.

Seabound has developed a patent-pending compact carbon capture device that can be retrofitted into a ship’s engine exhaust at the funnel. The CO2 chemically reacts with pebbles of quicklime, which then convert into limestone, keeping the CO2 locked in, the firm continued. 

Preparations to install this equipment on board the first ship will take place in May and June this year to run the first-ever pilot project throughout this summer, the firm said.

This project is part of the Clean Maritime Demonstration Competition Round 3, which was announced in September 2022, funded by the UK Department for Transport and delivered in partnership with Innovate UK. Projects will take place in multiple locations around the UK from as far north as the Shetland Isles and as far south as Cornwall.

Papageorgiou said: “lomarlabs is advising on engineering and design for this transformative solution, adapting it to the realities of everyday commercial shipping operations. We help formulate pilot tests on Lomar vessels, and fine-tune the business model using our industry insight to help make a viable business.”

Seabound co-founder and CEO, Alisha Fredriksson, added: "We’re excited to be collaborating with lomarlabs for this first-of-a-kind ship-based pilot of Seabound’s compact carbon capture technology. Together we aim to demonstrate that the shipping industry doesn’t have to wait to decarbonise in five to 10+ years, but that there are already viable solutions coming to the market now."